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Modern Approaches to Management Accounting

FA23

Introduction

This course has been designed to introduce delegates to the increasing complexity of the modern business environment and how management accounting tools and techniques are adapting respond to this. 

It focuses on the growing importance of the management accountant in strategic decision making and securing a sustainable competitive advantage. Addresses the need for more flexible approach to planning, performance management and decision-making.  Delegates will also explore the challenges posed by increasing environmental awareness and use of data analytics.

Who should attend

This course is relevant to both Senior Financial and Non-Financial Managers and to professionals who wish to understand how management accounting needs to rise to the challenge of an ever changing world.

COURSE PROFILE

Strategic management accounting

  • Key concepts in strategic management accounting and planning
  • Using strategic management accounting tools to gain competitive advantage
  • Risk evaluation and management tools

Effective performance management

  • The importance of effective performance management
  • Tools and techniques used in effective performance management:
    • Key Performance Indicators (KPI’s) -  (financial and non-financial)
    • Balanced Scorecard (BSC)
    • Benchmarking

Beyond Budgeting – a more flexible approach

  • The restrictions of traditional budgeting
  • Beyond Budgeting and  its impact on management’s approach
  • Tools and techniques used in a more flexible approach:
    • Rolling plans
    • Activity Based Budgeting (ABB)
    • Scenario planning

Delivering value

  • Tools and techniques to deliver value in a product or service  including:
    • Activity Based Costing (ABC)
    • Target and Lifecycle costing
    • Quality Management tools
    • Value Chain Analysis
  • The importance of Customer Profitability Analysis
  • Techniques to conduct Customer Profitability Analysis

Key concerns in the modern environment

  • Environmental Management Accounting (EMA) and Corporate Social Responsibility (CSR)
    • Tools and techniques used in EMA and CSR
  • Big Data and Data Analytics
    • The impact of Data Analytics in the modern business
    • The importance of the management accountant in Data Analytics
  • The effect of globalisation on management accounting
    • Learning and adapting across global borders
SKILLS

At the end of this course, delegates will be able to:

  • Understand the concept of strategic management accounting and its application
  • Appreciate the key tools used in strategic management accounting and risk evaluation
  • Appreciate financial and non-financial metrics used in effective performance evaluation
  • Build an awareness of the limitations of traditional budgeting techniques
  • Apply modern techniques to deliver value and assess customer profitability
  • Appreciate the significance of Environmental Management Accounting, Corporate Social Responsibility and Big Data on modern businesses
  • Recognise the importance of the management accountant in Data Analysis
BOOKING

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